CRUDE OIL NETBACKS UP SHARPLY IN EUROPE, U.S.Crude oil netback values in complex refineries rose sharply in Europe and firmed in the U.S
last Friday from the previous week but fell sharply in Singapore, according to calculations by Reuters Pipeline
    The firmer tone to refining margins in Europe and the U.S
relected higher prices for petroleum products, particularly gasoline, and support from crude oil prices
    Netback values for crude oil refined in Northern Europe rose substantially following strong gains in gasoline prices there
Brent is valued at 19.45 dlrs, up 56 cts a barrel or three pct from the previous week
    In the U.S
Gulf, sweet crudes rose in value by 14 cts to 19.33 dlrs for West Texas Intermediate, up about 0.7 pct
    Sour grades in the U.S
Gulf showed an increase of 33 cts a barrel for Alaska North Slope, up 1.7 pct
    But netbacks for crude oil refined in Singapore fell sharply, down 15 cts to as much as 68 cts a barrel as ample distillate supplies weighed on petroleum product prices
    Attaka in Singapore is valued at 18.55 dlrs, a decline of 68 cts a barrel or 3.5 pct from the previous week
    For refineries in the Mediterranean, netback values were mostly lower, with declines of seven to 14 cts
The value of Kuwait crude fell 14 cts to 18.37 dlrs, while Iranian Light fell 11 cts to 19.14 dlrs
    On the U.S
West Coast, netback values for ANS CIF L.A
also jumped sharply, up 40 cts a barrel or 2.2 pct to 18.82 dlrs on higher gasoline prices
 Reuter
